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Lockdown easing draws investors to SMIC

THE easing of lockdown restrictions such as the reopening of malls led to increased trading activity in the SM Investments Corp. (SMIC) stock last week.

SMIC was the seventh most actively traded stock with a total of 991,700 shares worth P813.05 million having exchanged hands on the trading floor from May 18-22, according to data from the Philippine Stock Exchange.

On a week-on-week basis, its share price was higher by 3.3% to P828 on Friday from May 15’s closing price of P801.50 apiece. Year to date, the conglomerate’s share price is down 20.3%.

“We think what really triggered SM to gain earlier [last] week was the resumption of mall operations amid eased lockdown measures in the country. Although it is not fully operational, it will have, at least, a revenue to generate,” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in an e-mail.

“Chart-wise, traders bought on support at around P800, which also triggers the bounce of the stock,” she added.

In a separate e-mail, Timson Securities, Inc. Head of Online Trading and Trader Darren Blaine T. Pangan said investor sentiment “was leaning more towards a wait-and-see stance… brought about by the uncertainty of the effects of the more-relaxed lockdown measures… in the country.”

“Investors may be observing how consumers will behave in what most people call the new normal environment. Corporate earnings results were also released last Thursday,” he said.

SMIC’s net attributable income dropped 16% to P9 billion in the first quarter, pulled by income declines in its retail, property and banking segments.

BDO Unibank, Inc. had a net income of P8.8 billion in the first three months of the year, around 10.2% lower than the P9.8 billion in the same quarter the previous year. Meanwhile, China Banking Corp.’s profits grew by 19% to P2.2 billion during the period.

Property arm SM Prime Holdings, Inc. recorded a consolidated net income of P8.3 billion, down 5% from P8.8 billion in last year’s comparable three months.

Retail operations under SM Retail, Inc. also took a hit as it posted a net income of P1.2 billion, down 56% from P2.7 billion the previous year.

Per segment, banking made up 46% of SMIC’s net income, property comprised 44%, and retail accounted for the remaining 10%.

“We think that investors already expected that SM’s earnings would decline this quarter given the lockdown in Luzon which prohibits malls from opening…[I]t was trading above P900 at the beginning of March [and] since then, it plunged by up to 31% after Metro Manila was placed in the Enhanced Community Quarantine (ECQ)…,” Philstocks’ Ms. Alviar said.

“Investors were just waiting on how big the impact would be,” she added.

Ms. Alviar said uncertainties surrounding the pandemic make it hard to come up with a forecast: “But for this year, we expect SM Investments’ net income to decline, even worse than it had in the first quarter this year,” she said.

For Timson Securities’ Mr. Pangan: “The second-quarter earnings may heavily be dependent as to how the lockdown measures will be handled in the coming weeks.”

“If psychological support at P800 holds, we may see the stock consolidate between P800 and P880, which is its nearest resistance. If the stock breaks out of this level, then we may witness the stock trading back at the P900 area,” Mr. Pangan said.

For Philstocks’ Ms. Alviar: “In the short-run, we see support at P800 and resistance at P880,” she said.

“[F]or the medium-term, support is around P780 while resistance is P900. The 50-day EMA (exponential moving average) would also be the dynamic resistance in the short-term,” she added. — Jobo E. Hernandez

MPIF, Agrea in produce-buying tie up to support farmer incomes

METRO Pacific Investments Foundation (MPIF) said it entered into a partnership with Agrea Agricultural System International, Inc. to purchase and distribute produce from farmers cut off from their markets by the lockdown.

The Move Food Initiative’s objective is “to help agribusinesses that are struggling to cope with the current situation,” Agrea President and Founder Cherrie D. Atilano said.

MPIF said the initiative shortens the supply chain for food and hopes to broaden the supply of fresh produce available to vary the diets of quarantined people who have become reliant on canned and preserved food during the coronavirus disease 2019 (COVID-19) pandemic.

“Being out there and personally distributing relief goods while mindful of social distancing for everyone’s safety, gives you a firsthand view of people’s needs. In addition, to provide food that fills their stomachs is indeed a goal, but ensuring their good health is the extra step we decided to take,” MPIF President Melody M. del Rosario said.

MPIF has donated over 8,000 kilograms of fresh vegetables sourced from farmers’ cooperatives to beneficiaries as part of its COVID-19 relief efforts. — Revin Mikhael D. Ochave

León Gallery holds 15th online auction

LEÓN Gallery will hold the 15th León Exchange Online Auction, featuring art, jewelry, books, and furnishings, at its official website (www.leonexchange.com) on May 30 and 31.

The two-day auction includes pieces by French architect and designer Philippe Starck, Danish furniture designer Hans J. Wegner, Ah Tay furniture, and prints from De La Salle-College of Saint Benilde (DLS-CSB) SDA Gallery’s By Hand: Rediscovering the Art of Printmaking exhibition (2018).

“One can indulge his or her taste for the beautiful items at various price points at the upcoming online auction and all that from one’s armchair or boudoir. The online auction gives clients the convenience of bidding through their mobiles, tablets, or laptops, without having to trek all the way to where physical auctions happen,” León Gallery director Jaime Ponce de Leon was quoted as saying in a press release.

The first day of the auction, May 30, features artworks, prints, jewelry, and watches.

The artworks for sale include Augusto Albor’s acrylic on canvas work Untitled Connectivity (2002), National Artist for Visual Arts Benedicto “BenCab” Cabrera’s Sayaw Sabel, Dance Form V (2014), Betsy Westendorp’s oil painting Atmosferografias y Vanitas (1980), and a 1989 EDSA Revolution-themed watercolor by Nemesio Miranda.

The curated prints featured at the 2018 exhibit at SDA Gallery include works by Australian printmaker and educator Michael Kempson and Thai printmaker Kittikong Tilokwattanotai. Mr. Kempson is currently a Senior Lecturer and Convenor of Printmaking Studies at the University of New South Wales Art and Design in Sydney, Australia, while Mr. Tilokwattanotai is the founder of Thailand-based Chiangmai Art on Paper. The proceeds from the sale of the prints will be donated to the homeless currently being sheltered at the Benilde Sandejas Gym during COVID-19 quarantine.

On May 31, the sale will include furniture, silver pieces, chinoiserie, fine China, coffee table books, and rare photographs. Among these are a Hans J. Wegner wooden sideboard (1964), Philippe Starck’s Stacktable Lord Yo and Olly Tango chairs, a 1910 Ah Tay aparador (cabinet), and an antique marble-top narra Ilocos table with ball and claw feet.

Both auctions start at 11 a.m.

To view the auction catalog and register as a bidder, visit www.leonexchange.com. For more information, visit www.leon-gallery.com, e-mail info@leon-gallery.com, or call 8856-2781. — MAPS

Loans to firms eyed as RRR compliance

THE BANGKO SENTRAL ng Pilipinas (BSP) will expand banks’ alternate reserve compliance to include lending to large enterprises that meet the criteria set by the central bank, according to an official, as the pandemic continues to affect many businesses.

Circular No. 1083 dated April 22 only allowed as alternative reserve requirement compliance banks’ loans to micro-, small- and medium-sized enterprises (MSMEs) in a bid to encourage lending to small businesses that have been struggling due to measures imposed to prevent the spread of the virus.

“Under the forthcoming guidelines, loans to large enterprises that are granted after March 15 will be considered eligible alternative compliance with the reserve requirements,” BSP Deputy Governor Chuchi G. Fonacier said in a text message.

Ms. Fonacier said the revised policy will be effective starting May 29 and will be applicable to banks as well as quasi-banks until Dec. 30, 2021.

“The BSP’s policy aims to channel funding to heavily-affected large enterprises as well as to ease their financial burden during the ongoing coronavirus disease 2019 (COVID-2019) pandemic,” Ms. Fonacier said.

She said only lending to large enterprises that meet all the criteria set by the BSP will qualify as alternative reserve compliance.

Loans covered by the new relief measure will be lending to an enterprise that has been “directly and adversely impacted by the COVID-2019 outbreak,” the official said.

“[S]uch that (a) its liabilities has become more than its assets, or (b) it has experienced at least a fifty percent (50%) decline in gross receipts for at least one calendar quarter; and in either instance, is generally unable to pay or perform its obligations as they fall due in the ordinary course of business, as a result of the COVID-19 outbreak,” Ms. Fonacier explained.

Lending to large firms that appropriate regulatory agencies assessed to be badly hit by the pandemic will also qualify as alternative reserve compliance.

Ms. Fonacier said the new rules will cover credit to large enterprises that could be a proprietorship, partnership or a corporation that does not belong to a conglomerate with an asset size of more than P100 million and with 200 employees or more.

BSP Governor Benjamin E. Diokno on Friday said the central bank is also considering allowing credit granted to some educational institutions to be part of lenders’ reserve requirement compliance.

The reserve requirement ratio (RRR) of universal and commercial banks was reduced by 200 basis points in April to 12% in a move to boost liquidity during the crisis. Meanwhile, the RRR of thrift and rural banks stand at four percent and three percent, respectively.

The central bank also reduced the minimum liquidity ratio of stand-alone thrift and rural banks by 400 bps to 16% until end-2020 to support smaller lenders during this crisis. — L.W.T. Noble

Customers asked to book ahead as select Maxus PHL dealerships reopen

SOME DEALERSHIPS of Maxus Philippines in Metro Manila have opened after shuttering for two months in compliance with the government’s guidelines under the enhanced community quarantine (ECQ). The company says the facilities are following health and physical distancing protocols with the reopening.

Open once more are Maxus Mandaluyong Greenfield District at 833 Sheridan Street, Barangay Highway Hills in Mandaluyong City (customerrelations.gdsc@idi.ph, [02] 8558-5823); Maxus Quezon Avenue at 1229 Quezon Avenue, Quezon City (customerrelations.qa@idi.ph, 0917-872-0464/0977-822-8585); and, Maxus Taguig South at 6140 P. Cayetano Blvd. Brgy. Ususan, Taguig City (iautoinc@yahoo.com, 0917-800-1076). Meanwhile, Maxus Iloilo in Barangay Taft North, Mandurriao, Iloilo City (maxusiloilo@gmail.com, 0936-953-4345) also resumes operations under the general community quarantine (GCQ) status. Maxus Alabang at Alabang-Zapote Road, Madrigal Business Park, Ayala Alabang, Muntinlupa City (customerrelations.alb@idi.ph, [02] 8558-5828/0916-994-8113) opened last May 20, while Maxus Cebu along Soriano Avenue in the North Reclamation Area, Mabolo, Cebu City is closed until further notice. Customers are “strongly encouraged” to call or e-mail their respective Maxus dealerships to schedule a showroom visit or to book a service appointment. The central Maxus Philippines customer care team may be reached through customercare@maxus.com.ph.

Maxus says that it will be initiating measures to assure the health and protection of its customers and people. Customers will be required to wear face masks, screened for fever (if reading exceeds 37.5 degrees Centigrade, entry will be refused), urged to maintain physical distancing, and encouraged to use available hand sanitizer.

As for staff, sales, service and delivery crew, they will ensure that the customer lounge, comfort rooms, and door handles are regularly disinfected. Protective covers will be put on vehicle seats, steering wheel, shift knob, floor, and bumpers throughout the time the vehicle is serviced. The service team will use disposable gloves and proper protective gear during the entire service process, from receiving to releasing. Car keys will be sanitized before turnover to the customer. Used parts will be properly disposed of. Billing/invoicing staff will wear face masks and gloves as well. Sanitized pens will be offered to customers when asked for their signature, and payment cards will be disinfected before and after transactions.

For more details, visit www.maxus.com.ph.

US meat inventories tighten as virus shuts slaughterhouses

CHICAGO — US frozen pork inventories fell in April, when they typically rise, and beef inventories dropped more than normal as the coronavirus pandemic shut slaughterhouses and prompted grocers to limit customers’ buying, government data showed on Thursday.

About 20 meat plants shut last month while consumers were stocking freezers during state-imposed lockdowns. US President Donald Trump ordered the plants to stay open after meatpackers warned of shortages.

Total pork inventories in cold-storage facilities declined about 2 million pounds to 614.8 million pounds as of April 30, compared to a month earlier, according to US Department of Agriculture (USDA) data. Normally supplies increase 27 million pounds from March to April, said Rich Nelson, chief strategist for broker Allendale.

Total beef inventories fell by about 12 million pounds to 490 million pounds, exceeding the average decline of about 6 million pounds from March to April.

“There was a moderate drawdown story for pork,” Mr. Nelson said. “It was nothing like a catastrophic scare.”

Inventories of pork bellies, which are cured into bacon, rose by 2.7 million pounds from March to 80.87 million pounds, according to the USDA. Typically they increase by about 7 million pounds over that period, according to Allendale.

Prices for pork bellies tumbled as restaurants closed dining rooms, but other cuts have become more expensive due to stronger retail demand.

Much of the meat in cold storage is destined for export markets, rather than US grocery stores, analysts said.

China has been a major buyer of US pork this year but canceled purchases of 12,561 tons last week, according to separate USDA data. Shipments of US pork to China remained strong at 19,808 tons.

“Pork the last couple weeks has gotten extremely high,” said Don Roose, president of broker US Commodities in Iowa. “It looks like they’re just backing away from the price here.” — Reuters

WFH: Favor Church’s James Aiton

MONDAYS to Fridays were spent working in the office. Friday nights kicked off the weekend of me-time or hanging out with friends. Sundays were for church and family bonding. Then Monday would roll around. An ordinary week used to look like this. Until the pandemic happened, and everyone found themselves stuck at home 24/7, save for the occasional grocery runs and essential errands. Now the days blend together and it’s doubtful anyone can tell what day it is without looking at the calendar.

Despite that, people try to replicate most of their usual activities from home. They work from home, hold Zoom catch-up sessions with friends and family, and attend digitally streamed worship services.

Attending church is a highly social activity, a weekly mass gathering attended by hundreds of people: something quarantine measures strictly prohibit and probably won’t allow for the foreseeable future. How do churches cope?

Favor Church, a Mandaluyong-based Christian congregation led by Senior Pastors James and Kate Aiton, is one of many churches that turned to digital platforms while Metro Manila is under strict quarantine. Mr. Aiton told BusinessWorld via e-mail how his congregation gathers during these unique times.

Replies have been lightly edited.

HOW LONG DID IT TAKE FOR YOU TO ADJUST TO THE CHURCH-FROM-HOME FORMAT? DID YOU HAVE TO SUSPEND ACTIVITIES LIKE THE SUNDAY SERVICE WHEN THE ECQ (ENHANCED COMMUNITY QUARANTINE) STARTED, OR WERE YOU ABLE TO MOVE IT ONLINE IMMEDIATELY?
The announcement of ECQ happened on a Thursday night, so we had 48 hours to change our physical service into an online videoed service, and then full ECQ happened the day after, giving us 12 hours to get everything we needed out of our church venue (located in a mall) before it was shut down. That was a pretty hectic weekend!

The flexibility of our team was amazing, and they were able to make it happen so quickly, and every week since we have been working on different things, trying to improve the experience for those watching, and the workflow for us.

HOW ARE YOU DOING CHURCH ACTIVITIES NOW? HAS THE WORK-FROM-HOME FORMAT AFFECTED YOUR LINEUP OF ACTIVITIES?
In our church, our two main focuses are the Services and midweek Connect groups (small groups of people that get together for social connection and Bible studies). Obviously both of these things, and most things we do, are centered around meeting with people, so the change has been moving all these meetings online.

We’ve had great success in transferring nearly all our activities online, but are really missing that person to person contact!

We have been able to film our services with a skeleton team in a make-shift studio, and all other meetings have been done from homes.

WHAT WAS A NORMAL WEEK LIKE FOR YOU BEFORE THE ECQ, AND HOW DID IT CHANGE?
My week consisted of meetings with my staff, spending time preparing for sermons and catching up with leaders and members of our church.

I’m a highly relational leader, and so I have really missed being in person with people. I’ve been able to easily shift all these meetings online, but having three kids under the age of six has made it a little more difficult to have meetings at home. There is an increased usage in the “mute” button on video chats!

HOW DO YOU GATHER PEOPLE ONLINE — BOTH CHURCH WORKERS AND ATTENDEES?
Our strategy is based on whether the event is an internal one (just aimed at the people within our church) or an external one (aimed at everyone online).

Internally, we have communication channels set up through Facebook groups, messenger groups and via e-mail to promote what meetings are coming up. Most of these internal meetings are done over Zoom (sometimes up to 400 people) or Google Meet.

For external meetings, we rely heavily on social media, through our own promotion on Instagram and Facebook, and our church family sharing those posts.

We use different social media platforms to broadcast our meetings externally.

WHAT IS YOUR PREFERRED PLATFORM FOR HOLDING WORSHIP SERVICES ONLINE? WHAT TOOLS DO YOU USE TO RECORD YOUR PROGRAMS?
During the ECQ, we have been on quite the journey with this. At the moment we are broadcasting (through a restreaming service online) to multiple platforms — Kumu, YouTube, Facebook, Twitter, Periscope — and recently have partnered with ABS-CBN to be shown on itsr Sports and Action Channel, Sky Cable, and iWant.ph.

It looks like mass gatherings will be prohibited for the foreseeable future, so we are in the middle of trying to transition people to a new platform that is actually run on our webpage. This gives us greater control (not relying on streaming sites’ back end) to connect with people. We highly value connection with people, and don’t believe church is just about attending a service, but actually doing life with people. This new platform will give us greater flexibility in being able to pray for people, and connect with them, right on the page! It also has an auto translation tool for those typing in the chat in different languages!

For our services, we have a three-camera production set up, and have a team that captures and edits our service. For everything else, we are just using laptops and phones! Trying to be as resourceful as possible.

HAS THE QUARANTINE SPARKED NEW OPPORTUNITIES FOR YOUR CHURCH TO EXPAND? HOW?
It’s been huge for our church. We were not streaming services before this, so it forced us to go online. Within the first month, our reach on Facebook alone exploded to about 3 million people.

Viewing of our services has increased dramatically from when we were meeting in our venue. We also have had to start new international connect groups for people that are now tuning in from overseas.

The ECQ has been horrible on so many levels, but the silver lining for our church is the fact we’ve been able to get into people’s homes through their TVs and devices, people that never would have stepped foot in our venue. It’s very humbling.

Also, we have established our Favor Church Community Care, which have been feeding between 500-3,000 families a week all over Metro Manila. Families that otherwise would not have had access to food. This has been made possible by the generosity of our church family that have given financially towards it.

WHAT DO YOU MISS THE MOST ABOUT BEING UNDER QUARANTINE?
I miss people, giving them hugs and laughing and eating with them in person. I love people, and the fact that social distancing is going to be a real thing for the future, it breaks my heart that I won’t be able to get back to that for some time. — Denise A. Valdez

SEC to resume some office work this week

THE Securities and Exchange Commission (SEC) will start the gradual reopening of its main office on Tuesday for select services such as processing of company registrations.

The corporate regulator said in a statement over the weekend its Company Registration and Monitoring Department (CRMD) will be physically available starting this week, but on shortened workweek and operating hours.

The SEC CRMD, located at its main office in the Philippine International Convention Center Complex in Pasay City, will be open from Monday to Thursday, 9 a.m. to 4 p.m., for the duration of the modified enhanced community quarantine.

The office will offer limited services such as receiving proof of payment, signed and notarized copies of approved applications and supplemental documents required during the processing.

It will also release Certificates of Incorporation/Amendment and Confirmation of Payment and orders in Petitions to Lift Order of Suspension/ Revocation and/or Correction.

Payment facilities will likewise open for both SEC’s main office in Pasay City and former headquarters in Mandaluyong City starting Tuesday. This will be available from Monday to Friday, 9 a.m. to 2 p.m. for the Pasay office and 8 a.m. to 3 p.m. for the Mandaluyong office.

SEC extension offices outside Metro Manila have been operating at limited capacity since quarantine measures started easing this month. But the SEC noted the offices are on skeleton staff and some personnel are still working from home.

“In this light, the SEC asks for patience while it works on returning to full operations. It also encourages the transacting public to utilize its online registration platforms to limit unnecessary movements amid the COVID-19 pandemic,” it said.

For visitors in any of its offices, the SEC reminds that a “no face mask, no entry” policy is currently in place. Social distancing and limited human capacity per office is also being followed.

Online alternatives are available through the SEC’s Company Registration System at https://crs.sec.gov.ph. The interim online registration system for corporations with less than five incorporators may be done through https://apps004.sec.gov.ph:8001/application.

Payment of fees are accepted through accredited branches of the Land Bank of the Philippines and its online payment option, ePayment Portal. — Denise A. Valdez

Foton PHL turns over 6 ‘negative pressure’ ambulances to Philippine Red Cross

TO ADDRESS the need for safe transport of patients during the pandemic, Foton Philippines turned over six units of the Toano negative pressure ambulance to the Philippine Red Cross. This is said to be the first fleet of its kind here.

Also known as the “mobile N95 solution,” a negative pressure ambulance “isolates” the patient from the vehicle cabin to control spread of infection from the patient to the medical team in the ambulance. The Toana ambulance is also equipped with a full set of rescue equipment including a ventilator, defibrillator, ECG monitor, ultraviolet disinfection lamp, and central oxygen supply interface. Stretching to almost six meters, the Toano also stands 1.7 meters high — offering more space than typical vans. Foton said in a release that its bigger size “will allow medical institutions to add more medical equipment” for better emergency response.

“As the virus continues to spread, the demand for professional ambulance equipment in the Philippines has started to increase, and we are here to provide the solution for medical mobility needs,” said United Asia Automotive Group, Inc. (UAAGI) President Rommel Sytin. UAAGI is the exclusive country distributor of Foton, and is continuing to provide ambulances to different government during this trying time. Foton Philippines also has regular ambulance units available for sale in its 29-strong dealership network nationwide.

Germany tightens abattoir rules after outbreaks

BERLIN — Germany will tighten up rules on abattoirs, banning the subcontracting of meatpacking work through agencies after a rash of coronavirus outbreaks, Labor Minister Hubertus Heil said.

The cases have caused outrage in the home countries of the sector’s predominately foreign workers.

The new rules were agreed on Wednesday after more than 600 cases were reported of workers contracting the disease, government sources said.

The epidemic has thrown a spotlight on the German food industry’s reliance on migrant labor, particularly from Romania, where anger at the deaths of two harvest workers from the coronavirus and mass infections led the country’s labor minister to drive through locked-down Europe to Berlin for a fact-finding mission.

Under the new rules, meatpackers in abattoirs must be employed by the company itself, ending the practice of hiring many of the sector’s 200,000 workers through long chains of subcontracting agencies which pushes down final wages.

Heil said that repeated attempts to legislate to improve conditions in the industry, which works to thin margins, had failed but this time the government would persist.

“The government is resolved to be led not by lobbying interests but by the public good,” he said.

Agriculture Minister Julia Kloeckner added in a statement that companies must take responsibility for their workers.

“There are conditions in the meat industry that are not acceptable,” she said.

Some in the industry, which faces cost pressures from retailers including discounters Aldi and Lidl, fear that having to hire workers as staff will drive up their costs.

The state of Lower Saxony ordered that 10,000 abattoir workers at plants that used subcontracted employment be tested for COVID-19 (coronavirus disease 2019) after 92 workers tested positive at a plant in the town of Dissen.

The law will also allow workplace inspections and give local inspectors new powers to check workers’ accommodation. — Reuters

SSI reopens stores, offers online concierge services

FOR those missing selections from Givenchy (or essentials from Muji), the SSI Group has resumed operations for some of its stores and brands, following the government’s announcement on the re-opening of select malls and establishments.

Customers may also shop via The Specialist, the SSI Group’s at home concierge service. The service assists customers with their shopping needs via direct digital communication with customers and delivery at home or curbside pick-up.

The reopened stores practice the following safety measures to ensure proper hygienic standards: Fitting rooms are sprayed with alcohol before and after use, regular sanitation of card terminal keypads, proper sanitation of stores is done daily, before opening and closing hours, and finally, the stores’ salespersons wear face masks, gloves, and use hand sanitizer. They also encourage shoppers to follow protocol: face masks are a must, social distancing of at least a meter apart between people is enforced, and using hand sanitizer provided at the counter is encouraged.

Among the SSI shops that have reopened are 158 Designers’ Blvd., Acca Kappa, Armani Exchange, Bally, Banana Republic, Beauty Bar, Bershka, Bobbi Brown, Bottega Veneta, Brooks Brothers, Burberry, Calvin Klien Jeans and Underwear, Charriol, Coach, Cortefiel, Debenhams, Dune London, Ermenegildo Zegna, Gap, Givenchy, Gucci, Hugo Boss, Jo Malone, L’Occitane, Lacoste, Longchamp, Lush, MAC, Marks and Spencer, MUJI, Old Navy, and Zara. For a complete list and a directory of branches, visit the SSI Life blog at ssilife.com.ph/blog/.

For more updates, follow @SSILifePH on Instagram and Facebook or visit the website www.ssilife.com.ph. — JLG

Buskowitz powers farms with solar units

RENEWABLES enterprise Buskowitz Energy has powered three poultry farms with rooftop solar installations, bringing down their carbon emissions and electricity costs.

Under its build-operate-lease-transfer (BOLT) program, Buskowitz’s solar segment offered three farms in Visayas and Mindanao with solar photovoltaic units.

These farms are ESU Jasaan in Tulugban, Bukidnon, which is given a 90.2 kilowatt-peak installation; E&M Hatchery, also in Bukidnon, which operates a 70.13 kilowatt-peak solar system; and Cal’s Poultry Farm in Roxas City, Capiz, now running with a 100 kilowatt-peak rooftop installation.

“We hope that by going solar, more farms and broilers will be able to reduce their carbon emissions. We not only want to save the environment but also want to help lower overhead costs for produce and poultry farms through the BOLT program,” Buskowitz Energy Chief Executive Officer James Buskowitz said in a statement.

“If more agricultural farms adopt the use of solar, perhaps in the long run, we’ll feel these effects by seeing lower food costs, and create green-conscious farmers who will help shape the future of the food industry,” he added.

Citing World Bank data, at least 12.8 million tons of carbon emissions each year are generated from poultry farms.

The solar company noted that the three installed units can save an estimated 2,434 pounds of coal, and 249 gallons of gasoline, while the carbon sequestered is equivalent to planting 2.8 acres of Philippine forests and 36.5 tree seedlings over ten years.

Buskowitz Energy has been pushing for the use of rooftop solar units for electricity generation to save the country’s remaining farmable lands.

“With only 18% of the Philippines lands left for agriculture, we encourage our business partners in all industries to install [solar panels] on their roof,” he said. — Adam J. Ang

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